The weekly volume of people applying for a new home loan accelerated, and it was refinance activity that was out front of the week-over-week gain.

A seasonally adjusted nearly 5 percent increase from one week earlier was recorded for the Market Composite Index for the seven days that finished on March 23.

The index, which is a measure of retail residential loan application volume, was still up 5 percent from the week ended March 16 without seasonal adjustments.

Source: Mortgage Daily